Some work-related travel kept me from posting this yesterday, but here's the April performance of the biotech sector:
IBB data by YCharts
Not pretty, but then, you already know that. Rising off the mid-month low is something to be happy about, I guess.
Here's where we stand year to date:
I've noted previously the correlation between the declines in Gilead Sciences (GILD) and the broader biotech sector. April broke that trend, which is an encouraging sign that investors are perhaps starting to differentiate between quality stocks and over-valued garbage.
The April performance of big-cap biotech stocks: